Ruffer LLP and Capita join forces to launch the Calastone Trade Notification Service

Calastone, with support from key customers, continues to expand its portfolio of post-trade services, further increasing efficiency and reducing risk throughout the trade lifecycle of the funds industry.

Independent investment management firm Ruffer LLP, with full support of Capita Financial Group in its role as administrator, has partnered with Calastone to launch the new automated trade notification service.

Capita chaired a working group that oversaw the design of the solution, which enables automatic trade notifications to be generated from each executed trade and routed to the relevant global custodian. Ruffer is now live with the service and automatically sending settlement instructions over to their first target custodian.

In response to the funds industry demand, development of the trade notification service is another example of Calastone’s intelligent messaging that aims to continuously enhance the post-trade transaction lifecycle for the funds industry. In much the same way as other services, Calastone has built the automated trade notification capability using logical messaging based around a set of technical and business rules, designed to improve existing practises and workflow processes for both fund managers and their custodians.

Ruffer, together with their pioneering administrator Capita and a lead global custodian, has been closely involved in the development and launch of this service, which will increase efficiencies across the industry. Automating such processes also serves to reduce the risks associated with more manual methods of communication between fund managers and their custodians, particularly as it is likely that each fund manager will have a number of custodian relationships.

Russell Vickers, Operations Processing Manager from Ruffer, said, “We are delighted to be partnering with Calastone to introduce the new trade notification service to the funds industry and look forward to realising the savings we expect – through increased automation.”

These comments were echoed by Chris Addenbrooke, Chief Executive Officer of Capita Financial Group, who said, “We are very pleased to have chaired the working group that designed the service that will continue to streamline processes and reduce risk for both our clients and the funds industry as a whole.”

Phil Goffin, Executive Director of UK Sales at Calastone, said, “The addition of the trade notification service to the Calastone portfolio brings us closer to our goal of becoming a whole of market solution for the funds industry and we are pleased to assist such valued partners as Ruffer and Capita in their goals of reducing risk, cost and increasing efficiencies.”